UAE carriers have signed agreements to add hundreds of new aircraft to their fleet in the coming years as part of future growth plans and to keep pace with global demand in and across the Middle East, according to a study by Tarsus F&I, the organizer of the Dubai Airshow. The study forecasts that the Middle East's aviation market will reach 501 million passengers by 2037, supporting more than 5.2 million jobs and valued at $ 489 billion in GDP.

Support

The Middle East's commercial aviation industry supports 550,000 direct jobs, 2 million indirect jobs and contributes $ 157.2 billion to regional GDP, according to a study released by the organizer of the Dubai Air Show, which concluded yesterday. The region is home to 87 airlines operating about 1.2 million flights a year and transporting 7.2 million tons of cargo.

The study revealed by Tarsus F&I during the exhibition that the full potential in the region has not yet been realized, as estimates by the International Air Transport Association, indicates that the size of the Middle East aviation market will reach 501 million passengers by 2037 At a CAGR of 4.4%, she explained that at this stage the industry will support about 5.2 million jobs and a contribution of $ 489 billion to GDP.

Unique location

Based on current studies and Boeing's forecasts for the global market, the figures explain the enormous potential of the future. Within an eight-hour flight range from the Middle East, airlines can reach 65% of the global economy. 80% of the world's population, and to an area that represents 75% of economic growth over the next 20 years. She pointed out that the Middle East region is uniquely positioned to mediate traffic from traditional aviation markets (Europe) and emerging (Asia and Africa), noting that the region will become the center through which most of the traffic in the world.

The study pointed to Boeing's annual report, which predicted that 3,000 new aircraft will be needed to be delivered to companies in the Middle East over the next 20 years, worth $ 660 billion with the need for 64,000 pilots, while the main competitor Airbus European The region is estimated to need 2,825 new passenger planes and 54 cargo planes by 2037, with Dubai expected to be the leading aviation city.

New aircraft

The study also pointed out that the UAE airlines have signed agreements and deals to include hundreds of new aircraft in its fleet in the coming years, as part of future growth plans, and to keep pace with global demand across the region, stressing that this requires continued investment in infrastructure.

The airline has invested $ 50 billion in aviation industry in the region until the end of last year, she said, adding that to achieve its first position in the aviation sector, the UAE is investing in infrastructure, with billions of dollars in airports, airlines, services and facilities supporting the industry. As part of this expansion in the industry and aviation infrastructure, the maintenance and repair sector will also grow, noting that a report by Oliver Wyman showed that the Middle East market will grow from $ 9 billion in 2019 to $ 13.2 billion. In 2029, of which eight billion dollars will be spent on engines alone.

Travel Technology

Dubai International Airport has been at the forefront of adopting state-of-the-art screening technology as part of its “Smart Tunnel”, according to a study released by the organizer of the Dubai Air Show, which concluded yesterday.

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